The one I liked most is the view of James Abraham from BCG. I agree with him that it is not a reward but the path of both the org and the person for growth.
The was to look at it is upwards from bottom. Only if the bottom most people grow to the next level we will have people under them and this happens to every level upwards and finally the organization grows.
It is more a growth path than a reward. Ofcourse, pay hike may sometimes be a reward of some stellar performance or market correction.
More often, rewards for stellar performances could be onetime bonuses or holiday packages and that offers immediate recognition of the hardwork and may motivate for more such things.
Consisten such things coupled with career management initiatives may result in pay hikes, then promotions so on and so forth.
However, I would say excellent perspectives... Kudos to rediff for bringing on such thing..
